King’s Speech fails to address burning issues facing firms - Chamber

The King’s Speech did little to address some of the major issues facing businesses, business leaders said today.

Among the key headlines from yesterday’s Speech - which set out the Government’s priorities for what is likely to be the last parliamentary term before the General Election - were references to driving international trade, boosting apprenticeship opportunities and a bill which will set a legal framework in Greater Britain for self-driving cars.

However, there was little mention of tackling the underlying cost pressures and recruitment challenges currently facing businesses.

Key announcements in the speech included:

• A Leasehold and Freehold Bill banning leaseholds for new houses, but not new flats, in England and Wales, and increase the standard lease extension period to 990 years
• The existing Renters (Reform) Bill delivering a long-promised ban on "no-fault" evictions in England - but this will only come into force after reforms to the court system
• Licences for oil and gas projects in the North Sea to be awarded annually, under the Offshore Petroleum Licensing Bill
• An Animal Welfare (Livestock Exports) Bill banning the export of cattle from Great Britain for fattening and slaughter
• An Automated Vehicles Bill setting a legal framework in Great Britain for self-driving cars
• Pledges to strengthen consumer rights online and tackle fake reviews, contained in the Digital Markets, Competition and Consumers Bill
• The existing Data Protection and Digital Information Bill replacing the data protection regime the UK inherited from the EU
• A Rail Reform Bill creating a new body to oversee the railway in Great Britain is included, but only in draft form
• A Trade Bill enabling the UK to join the 11-nation CPTPP trade pact with several countries in Asia and the Pacific

Raj Kandola (pictured), director of external affairs at Greater Birmingham Chambers of Commerce, said: “Yesterday’s King’s Speech outlined the key criteria the Government is expected to focus on over the coming 12 months as it battles to boost business confidence and inject growth within a fragile economy.

“The Speech made welcome references to driving international trade, increasing apprenticeship opportunities, improving autonomous vehicle technology and upgrading the energy grid system – however, much attention will be drawn to what was missing from the address.

“Questions will be raised over the Government’s long-term net zero commitments as little was dedicated to the Government’s plans for renewable energy sources or planning reform.

“Data from our latest Quarterly Business Report reveals the underlying cost pressures firms are facing coupled with entrenched recruitment challenges and the Speech did little to address these issues.

“The upcoming Autumn Statement offers the perfect platform for the Chancellor to demonstrate that he listening to the concerns of businesses up and down the country and set out a plan for growth which will drive business investment, ease labour market shortages and further drive down inflationary pressures.”

Completed the GBCC’s latest Quarterly Business Report survey now and be in with a chance of winning afternoon tea for two at Lea Marston Hotel.

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